off-the-wire

North Sea Crude--Brent differentials slip after deal

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, March 27 (Reuters) - North Sea Brent crude oil differentials edged lower on Monday to reflect a deal, as strike action in France stretched into their 20th day.


* France's refining industry continued to be hit by pension strikes in France on Monday.
* The walkouts have reduced buying interest for North Sea crude grades.


* Iraq was forced to halt around 450,000 barrels per day (bpd) of crude exports from the Kurdistan Region on Saturday through an export pipeline that runs from its northern Kirkuk oil fields to the Turkish port of Ceyhan.


PLATTS WINDOW
* Indications are on a free-on-board (FOB) basis unless marked as cost, insurance and freight (CIF) or delivered at place (DAP).
* Brent: Glencore sold Vitol a cargo loading Apr. 15-17 flat against dated Brent.


* Troll: Glencore withdrew an offer for a CIF Rotterdam cargo for April 8-12 at dated Brent plus $4.10, equal to about dated Brent plus $2.47 on an FOB basis according to Reuters calculations. (Reporting by Rowena Edwards)


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